Price Reduced 13.33%
Price History
$749,999
5/5/2023
$699,999
5/22/2023
$649,999
11/26/2023
31 45 South Main Street, Burrillville, RI, 02859
1850
Non commercial(residential) financing available! 5 Potential residential units, 3 garages, parking lot, on a waterfront lot on Union Pond. Natural gas available at the street. Property is stabilized, fully rented at a 7%+ CAP rate with moderate rents. The community has waiting lists for residential rentals. The stand alone studio apartment was previously a barber shop/hair salon and can be converted back. Sale will include the metal sign holder for the front of the stand along building in front. Current income does not include 1 garage space that is owner occupied. With reasonable rent increases, property could easily be an 8% or 9% CAP rate at asking price. Sale includes TWO lots. The parking lot, #31 South Main St, is a separate deeded lot. This would make an excellent investment/1031 exchange.
Status:
Pending
Type:
Commercial
Basement:
Partial
Parking:
14-car
Acreage:
0.69
Est. Taxes:
$6,348
Assessment
$456,400
Construction
Frame
Utilities
Cable Available,Fiber Optic Available,Natural Gas Available,Sewer Connected
Days on Market:
257
MLS #:
1334909
Community Info
School Info
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